A general view of empty Alitalia airline check-in counters
Photo: AP
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Aeroflot to Continue Fighting for Alitalia
Russia’s Aeroflot has denied the information about its withdrawal from the tender for Italian national airlines – Alitalia, RBC reported.
Some media announced not long ago that Aeroflot might decide against bidding for Alitalia, as the tender provisions didn’t appear very advantageous to it.
Italian government has put up for sale the profit-losing Alitalia in late 2006. Aeroflot submitted official bid on April 2, 2007. Aeroflot acts in consortium with UniCredit and will have 95 percent in the undertaking if it wins, while UniCredit will get 5 percent.
Aeroflot’s rival for Alitalia is Air One, which acts in tandem with Intesa Sanpaolo. There was one more challenger, the consortium led by Texas Pacific Group, but it refused to proceed with the fight.
Aeroflot grew its IAS net profits 36 percent on year to $258.1 million in 2006. The government’s stake stands at 51.17 percent. National Reserve Corp. owns roughly 30 percent via Cyprus Grabor Trading (Overseas) Limited and Luxemburg Transinvest Control S.A.
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